The NZD/USD pair has appreciated for the second consecutive session, reaching a new weekly high in the 0.5720-0.5725 area during Wednesday’s Asian trading. This upward movement is supported by a prevailing positive risk sentiment and increased speculation regarding potential Federal Reserve rate cuts, which have collectively weakened the US Dollar. However, gains may be capped as market participants anticipate forthcoming tariff announcements. The New Zealand Dollar is benefiting from improved market sentiment, particularly optimism surrounding the Chinese economy, evidenced by recent data indicating robust manufacturing activity growth in March. This data, coupled with previously released positive Purchasing Managers’ Index figures and ongoing stimulus measures in China, contributes to the pair’s upward trajectory.
